With new cross border capabilities, millions of U.S. customers are now able to shop British merchants - just in time for the holiday shopping season

Clearpay’s cross border shoppers transact around 24% more frequently than domestic shoppers only 

Clearpay, a leader in “Buy Now, Pay Later” payments, known as Afterpay (ASX: APT) outside the UK and Europe, has introduced cross border trading for its 6,000+ UK merchant partners - allowing them to offer their products to buyers in the U.S. With Australian, Canadian and New Zealand customers already shopping from Clearpay’s merchants, this addition will mean UK merchants can now reach more than 20 million U.S. shoppers. 

In the UK, online shopping saw accelerated growth  by the equivalent of ‘three to four years’ during the pandemic. In addition, it is estimated that e-commerce now represents a US$4.89 trillion GMV opportunity globally. Once logged in to Clearpay, shoppers see the total basket amount in their local currency during checkout and will be charged this amount. They also benefit from the flexibility and convenience of paying in four instalments over time, without incurring interest or currency conversion fees. Participating UK merchants can open their store fronts to these shoppers without paying set-up or currency conversion fees. 

Afterpay first introduced cross-border shopping in Australia and New Zealand in March 2019, followed by the UK in mid 2020. Towards the end of 2020, Afterpay enabled U.S. merchants to sell to consumers abroad. Between July 2020 and June 2021, global cross border sales increased by approximately 120%. 

Rich Bayer, Clearpay’s UK Country Manager, said: “With Clearpay’s new cross border offering, we’re delivering to our merchant partners new customers who are proven to convert from browsers to buyers at a much higher rate - bringing increased sales, without additional set-up costs or fees. I’m thrilled that merchants in the UK will now have an added opportunity to grow their business just in time for the busy holiday season.”